Corporate | 15 May 2003 08:29

Flughafen Wien AG english

Results for the first quarter Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– Good traffic development brings above-average results for first quarter Despite uncertainty on global economic markets over the approaching war in Iraq and a reduction in flights by the Austrian Airlines Group, Vienna International Airport was able to record an increase of 7.1% in the number of passengers for the first quarter of 2003. This development was supported to a subtantial extent by growth of 11.3% in the number of transfers. Flight movements rose by 6.9% for the reporting period, and maximum take-off weight increased by 9.8%. Developments were even better in the cargo segment, with an increase of 41,222 tonnes or 18.6% for the first three months. Net profit declined by EUR 11.1 million from the comparable prior period to EUR 16.5 million for the first quarter. The settlement of pension claims in 2002 and non-recurring income of EUR 19.9 million from the reversal of provisions for pensions had a one-time effect in the prior year. Without this item, profit for the first quarter of 2003 would have risen by roughly 14% because of the increase in turnover. Outlook Vienna International Airport will add six new carriers with our summer flight plan for 2003. In comparison to the winter flight plan, we now offer 16 new destinations. This increases the number of cities with direct flights from Vienna to a total of 134. Construction on the office park started several days ago, and completion is scheduled for October 2004. Groundbreaking for the new air traffic control tower will take place this summer, with completion scheduled for late 2004. Work on the new City Airport Train (CAT) traffic link is in progress. Starting in December 2003 the City Airport Train will carry passengers from the centre of Vienna to the airport in only 16 minutes. Travellers will also be able to check baggage before departing from the “Wien-Mitte” traffic centre. Interim Financial Statements for the First Quarter 2003 according to IAS / IFRS Flughafen Wien AG Consolidated Income Statement (T EUR) 1-3/2003 1-3/2002 Change Turnover 81,364.3 70,611.9 15.2% Other operating income 1,774.0 2,372.7 -25.2% Operating income 83,138.3 72,984.6 13.9% Cost of materials and services -6,452.5 -4,580.1 40.9% Personnel expenses -34,280.0 -11,853.9 189.2% Amortisation of intangible assets and depreciation of fixed assets -10,640.7 -10,300.9 3.3% Other operating expenses -8,317.7 -8,127.2 2.3% Income before interest and taxes (EBIT) 23,447.3 38,122.6 -38.5% Financial results 1,475.2 3,666.3 -59.8% Profit before tax (EBT) 24,922.5 41,788.9 -40.4% Taxes on income -8,373.7 -14,333.5 -41.6% Minority interest -94.1 89.1 -205.6% Profit for the period 16,454.8 27,544.5 -40.3% Earnings per share (in EUR) 0.78 1.31 -40.5% Consolidated Balance sheet (T EUR) 31.03.2003 31.12.2002 Change Non-current assets 592,802.8 599,017.1 -1.0% Current assets 194,545.1 180,319.9 7.9% Assets 787,347.9 779,337.1 1.0% Equity 575,305.0 559,909.1 2.7% Minority interst 229.6 135.5 69.4% Non-current liabilities 102,901.1 103,180.2 -0.3% Current liabilities 108,912.3 116,112.3 -6.2% Equity and Liabilities 787,347.9 779,337.1 1.0% Consolidated Cash Flow Statement(T EUR) 1-3/2003 1-3/2002 Change Net cash flow from operating activities 23,905.2 6,990.6 242.0% from investing activities -8,721.2 -5,630.2 54.9% from financing activities -3,045.9 -4,271.1 -28.7% Change in cash and cash equivalents 12,138.1 -2,910.7 517.0% Addition to / – Reversal of revaluation reserve for securities -193.6 -463.3 -58.2% effectof exchange rate fluctuations on cash held -8.9 0.0 n.a. Cash and cash equivalents at beginning of period 139,156.7 172,370.1 -19.3% Cash and cash equivalents at end of period 151,092.3 168,996.0 -10.6% Consolidated Statement of Capital and Reverses T EUR 2003 2002 Change Balance on 1.1. 559,909.1 532,418.6 5.2% Profit for the First Quarter 16,454.8 27,544.5 -40.3% Other changes -1,058.9 -682.9 55.0% Balance on 31.3. 575,305.0 559,280.2 2.9% Segment Results (T EUR) 1-3/2003 1-3/2002 Change Airport Segment turnover* 35,500.0 28,642.7 23.9% Segment profit 15,469.3 15,839.2 -2.3% Handling Segment turnover* 27,282.0 23,645.5 15.4% Segment profit 6,155.6 11,693.6 -47.4% Non-Aviation Segment turnover* 18,544.3 18,268.6 1.5% Segment profit 6,492.6 13,348.6 -51.4% * external turnover Key Figures on the Flughafen Wien Group Industry Indicators 1-3/2003 Change in % 1-3/2002 MTOW (in tonnes) 1,191,286 +9.8 1,084,752 Passengers 2,520,238 +7.1 2,354,049 Transfer passenges 901,870 +11.3 809,978 Flight movements 44,903 +6.9 42,006 Cargo (air cargo and trucking; in tonnes) 41,222 +18.6 34,744 Financial Indicators Amounts in T EUR, except employees 1-3/2003 Change in % 1-3/2002 Total turnover 81,364.3 +15.2 70,611.9 EBIT 23,447.3 -38.5 38,122.6 EBIT-Margin in % 28.2 -46.0 52.2 EBITDA-Margin in % 41.0 -38.2 66.4 Net profit for the period 16,454.8 -40.3 27,544.5 Cash flow from operating activities 23,905.2 +242.0 6,990.6 Equity 575,305.0 +2.9 559,280.2 Capital expenditures 8,690.4 +30.5 6,658.8 Employees at the end of period 2,726 +4.8 2,602 end of message, (c)DGAP 15.05.2003 ——————————————————————————– WKN: 091180; ISIN: AT0000911805; Index: ATX Listed: Amtlicher Handel in Wien; Freiverkehr in Berlin-Bremen, Frankfurt, Hamburg, München, Stuttgart; London 150829 Mai 03